Relmada Therapeutics, Inc. $RLMD Shares Sold by AdvisorShares Investments LLC

AdvisorShares Investments LLC lessened its stake in shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) by 20.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 319,510 shares of the company’s stock after selling 83,978 shares during the period. AdvisorShares Investments LLC’s holdings in Relmada Therapeutics were worth $1,543,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Jefferies Financial Group Inc. acquired a new position in shares of Relmada Therapeutics during the fourth quarter valued at approximately $105,000. XTX Topco Ltd acquired a new position in shares of Relmada Therapeutics during the second quarter valued at approximately $28,000. LMR Partners LLP acquired a new position in shares of Relmada Therapeutics during the second quarter valued at approximately $33,000. Two Sigma Investments LP increased its stake in shares of Relmada Therapeutics by 82.0% during the third quarter. Two Sigma Investments LP now owns 173,614 shares of the company’s stock valued at $349,000 after acquiring an additional 78,197 shares during the period. Finally, Parsons Capital Management Inc. RI grew its position in Relmada Therapeutics by 61.0% in the fourth quarter. Parsons Capital Management Inc. RI now owns 263,000 shares of the company’s stock worth $1,270,000 after buying an additional 99,664 shares during the last quarter. Institutional investors and hedge funds own 45.24% of the company’s stock.

Relmada Therapeutics Stock Performance

NASDAQ RLMD opened at $7.21 on Friday. Relmada Therapeutics, Inc. has a twelve month low of $0.52 and a twelve month high of $8.00. The stock has a market cap of $756.26 million, a price-to-earnings ratio of -6.61 and a beta of 0.43. The firm’s 50 day moving average price is $7.05 and its two-hundred day moving average price is $5.29.

Relmada Therapeutics (NASDAQ:RLMD) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.04). On average, research analysts forecast that Relmada Therapeutics, Inc. will post -0.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RLMD has been the topic of several recent research reports. Piper Sandler initiated coverage on shares of Relmada Therapeutics in a research report on Tuesday, March 24th. They issued an “overweight” rating and a $12.00 price target on the stock. Lucid Cap Mkts upgraded shares of Relmada Therapeutics to a “strong-buy” rating in a research report on Monday, March 2nd. Finally, Mizuho lifted their price target on shares of Relmada Therapeutics from $10.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, March 20th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Relmada Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $12.00.

Relmada Therapeutics Profile

Relmada Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel therapies for pain and other central nervous system (CNS) disorders. The company applies a proprietary stereochemical approach to optimized drug candidates, aiming to improve safety, tolerability and efficacy profiles compared with existing treatments. Relmada’s research efforts center on modulation of NMDA receptors to address unmet needs in depression, neuropathic pain and related indications.

Relmada’s lead product candidate, REL-1017 (d-methadone), is being evaluated as a potential rapid-acting and maintenance treatment for major depressive disorder, with clinical studies underway to assess its utility in both acute and long-term settings.